insurance

Auto disruptor looks to shake up car insurance

By Sam Sklar Along with other disruptions to the car industry, Tesla is now poised to change the auto insurance market. Tesla has partnered with Liberty Mutual Insurance Company to roll out a Tesla-specific insurance product called InsureMyTesla. This insurance package includes benefits like

Megaships may be approaching their maximum size

By Bill Holloway The largest container ship ever to call at a North American port, the CMA CGM Benjamin Franklin, visited the ports of Long Beach, Los Angeles, and Seattle last month. At 1306 feet long, 177 feet wide, and 197 feet tall, the ship is among the largest in the world and can carry

Insurers taken to task for ignoring drivers’ mileage when setting rates

By Bill Holloway A recently released study from the Consumer Federation of America (CFA) has found that insurers rarely give low-mileage drivers much of a break on their rates despite the fact that mileage driven is one of the best predictors of insurance claims, and most consumers feel that

Lack of transparency in use-based insurance may undercut demand management benefits

By Eric Sundquist One policy tool that holds promise in the effort to manage transportation demand is mileage-based insurance, also known as pay-as-you-drive insurance. Most motorists today pay premiums that are essentially fixed costs, with little or no connection to the amount of travel

Who Pays for Climate Change? (National Resources Defense Council, 2013)

U.S. taxpayers outspend private insurers three-to-one to cover climate disruption costs. Paying for climate disruption was one of the largest non-defense discretionary budget items in 2012. Overall, the insurance industry estimates that 2012 was the second costliest year in U.S. history for

Unique storm surge bonds for MTA prove popular

By Robbie Webber For the first time, Standard & Poor’s has rated a catastrophe bond, also known as a cat bond, based on the level of a storm surge. First Mutual Transportation Assurance Co., a subsidiary of the New York Metropolitan Transportation Authority, is working with a reinsurer in

Red light cameras still popular with municipalities, but not drivers

By Mary Ebeling Automobile drivers almost universally agree that red light running is unacceptable and dangerous, but many also admit being guilty of it. Almost half the states allow red light cameras and municipalities are increasingly installing red light cameras at intersections as tools to

VMT fees, per-mile insurance make headway

By Robbie Webber Although several states have considered VMT fees as an alternative to the gas tax, none have yet instituted them. But recent news articles show that interest is still high, and some states may be inching toward this model. Insurance billed on a per-mile basis is also beginning to

Instant rewards, penalties, and feedback are shown to change driver behavior

By Robbie Webber A new study shows that tiny financial losses can improve motorists’ compliance with speed limits. The study’s researchers found that the psychology of losing money, even just a few pennies, as well as the instant feedback of seeing the money trickling away, almost completely

Oregon Senate passes bill to ease the way for car-sharing programs

If a car owner wants to rent a car to someone for a day when it is not being used, what happens with the car insurance? Under a bill passed by the Oregon senate, the car would continue to be insured as a personal vehicle by its owner, while a car-sharing company would insure it during its time as